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(Studio) London grain dealers say USSR getting ready for another huge grain purchase from United States and Canada. "London Times" says USSR may need 10 million tons grain. Report on reaction in Chicago grain futures market
REPORTER: Howard K. Smith
(Chicago, Illinois) Wheat prices rose to limit for 1 day's trading. This year's crop supposed to be record. [Feed grain specialist John H. FRAZIER JR. - says administration would like to see moderate sale to USSR . Be good thing not to have a lot left over.] Consumers may not agree. [FRAZIER - says sale that benefitted balance of payments would help consumer. Would give us money to buy imported oil. If we don't sell some export wheat, prices to drop.] Farmers to see how high prices to go for bumper crop.
REPORTER: Betsy Aaron
- Aaron, Betsy;
- Smith, Howard K.
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